Gujarat Pipavav Port Profit Jumps 16%

Pipavav Managing Director, Mr. Prakash Tulsiani

Gujarat Pipavav Port Ltd. (APM Terminals Pipavav), operating one of western India’s fastest growing gateway ports, today reported a 16% jump in net profit for the fourth quarter ended 31st December 2014, as against INR 771 million in the corresponding quarter last year mainly driven by an increase in reefer cargo exports as well as increase coal and fertilizer imports.

Business Highlights: Volumes

Period

Container cargo (‘000 TEUs)

Bulk cargo (mn MT)

Liquid cargo (mn MT)

Rail volume (‘000 TEUs)

Q4 CY14

196

1.22

0.08

143

Q4 CY 13

194

0.54

0.01

119

YoY growth (%)

1%

128%

395%

20%

Commenting on the results, APM Terminals Pipavav Managing Director, Mr. Prakash Tulsiani said: “Our container cargo is in the same range as the corresponding quarter of the previous year as we had an exceptionally great Q4CY13. Bulk cargo increased 128%, mainly driven by higher coal and fertilizers. The new Liquid cargo business has also started contributing positively to the overall revenue.”

This year the Company is changing its accounting year from current Calendar Year to Financial Year April – March. Accordingly, the current year will be a 15-month period starting 1Jan 2014 until 31March 2015